Press Releases
Catlin Group issues quarterly forecasts for Catlin Syndicate at Lloyd's
Hamilton, Bermuda - Catlin Group Limited, the international property and casualty insurer and reinsurer, has today issued forecasts relating to the 2002 and 2003 years of account of the Catlin Syndicate (Syndicate 2003), which is managed by Catlin Underwriting Agencies Limited.
The forecasts, which are set out below, are expressed as a percentage of capacity based on figures as at 31 March 2003:
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Year of |
Capacity |
Current |
Previous |
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2002 |
£274.6 |
10.0% - 15.0% |
10.0% - 15.0% |
|
2003 |
£500.0 |
13.5% - 18.5% |
No previous forecast |
The forecast for the 2003 year of account is the first forecast issued and should be treated as preliminary as a considerable amount of business written in the 2003 year of account remains on risk.
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For more information contact:
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Media relations: |
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James Burcke, Head of Communications | |
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Tel: +44 (0)20 7458 5710 |
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Mobile: +44 (0)7958 767 738 |
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E-mail: james.burcke@catlin.com |
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Investor relations: |
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William Spurgin, Head of Investor Relations | |
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Tel: +44 (0)20 7458 5726 |
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Mobile: +44 (0)7710 134 365 |
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E-mail:william.spurgin@catlin.com |
Information About Catlin Group Limited
The Catlin Group, headquartered in Bermuda, is a publicly listed, property/casualty insurer and reinsurer writing more than 30 classes of business worldwide. Catlin wrote gross premiums of $1.2 billion in 2003.
Over its 20 year history, Catlin has demonstrated a forward looking approach to business, including a realistic and flexible approach to underwriting cycles. The Group has consistently produced superior financial results and offers policyholders excellent financial security.
The Catlin Group’s three underwriting platforms are:
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The Catlin Syndicate at Lloyd’s (Syndicate 2003). The Catlin Syndicate, which is entirely funded by the Catlin Group, is the ninth largest syndicate at Lloyd’s based on initial 2004 stamp capacity of £500 million ($895 million). The syndicate underwrites a wide range of specialty property and casualty insurance and reinsurance.
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Catlin Bermuda (Catlin Insurance Company Ltd.). Catlin Bermuda, which began underwriting in 2002, underwrites property and casualty treaty reinsurance, structured risk and other coverages.
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Catlin UK (the UK Branch of Catlin Insurance Company Ltd.). Catlin UK, which began underwriting with effect from January 2004, underwrites property, general liability, professional indemnity, directors’ and officers’ liability, and crime insurance for UK businesses on a stand-alone basis. It also writes other classes of business in parallel with the Catlin syndicate.
Catlin has also established a network of international offices, aiming to work as closely as possible with brokers and their clients on a local level. Catlin has offices in the US (Houston and New Orleans), the UK (Glasgow, Leeds and Derby), Singapore, Malaysia, Germany and Australia. These offices act as liaisons with local clients and, in many cases, underwrite business on behalf of the Group's underwriting platforms.
Catlin shares are listed on the London Stock Exchange under the symbol ‘CGL’.
More information about the Catlin Group can be found at www.catlin.com.